Hamilton Students to Benefit from Second Million-Dollar Gift in a Week

For the second time in as many weeks, Hamilton College is announcing notification of a million-dollar donation. The most recent gift, $1 million from an anonymous donor, will establish an endowment to provide need-based scholarships for students who qualify for financial aid.

"This is truly a gift from the heart of a person who cares deeply for Hamilton and our students," said Joseph R. Urgo, acting president and dean of faculty. "I can think of few other people so caring, supportive and committed to Hamilton students."

It follows the announcement on May 28 of a $1 million contribution from Board Chair A.G. Lafley, who also established an endowment for students with financial need. Urgo said Hamilton wants to increase the portion of the endowment for student financial aid. Next year, he said approximately half of Hamilton's students will receive more than $24 million in need-based financial aid. Forty percent of the $24 million will be provided by endowment income earned from funds specifically established for scholarship aid; the balance will come from the college's operating budget.

"This gift, and the one announced a week ago, come at an important time," Urgo said. "The dramatic downturn in the economy means there are more students needing financial aid to pursue a college education. These gifts help ensure that a Hamilton education will remain affordable for current and future generations of Hamilton students. I can think of no more important and lasting gift than one that makes a Hamilton education possible."